“Shah Deniz and South Caucasus Pipeline Company are pleased to announce that the Shah Deniz Stage 2 and South Caucasus Pipeline Expansion (SCPX) projects continue to move forward at pace with significant progress already achieved at all fabrication and construction sites across Azerbaijan and Georgia,” said the message from BP.
As part of these developments Shah Deniz has recently awarded two further contracts in support of the development of future flanks following first gas in 2018. These contract awards underpin the schedule for project delivery and complement the progress being made across multiple areas of this major development project.
The two newly-awarded contracts, which follow on from the key Stage 2 contracts announced earlier, include:
- A $297 million contract for the supply of the subsea production system (SPS) hardware has been awarded to FMC Kongsberg Subsea AS. The scope of work under this contract includes the supply of equipment for the production clusters 3, 4 and 5 consisting of subsea manifolds, associated controls and connection equipment. The delivery of equipment will take place in phases over a period from 2016 to 2021.
- A $66 million contract for the second of three planned batches of subsea production trees and ancillaries required for the full field development has been awarded to OneSubsea (UK) Ltd. The delivery of equipment will take place in phases over a period from 2016 to 2021.
Not considering the two above-mentioned contracts, till now the Shah Deniz consortium has awarded contracts to a total amount of about $12 billion for development of the Shah Deniz Phase 2 field.—0—
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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